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Satoshi Versus ‘Infrastructure Bill –

When Satoshi Nakamoto released the Bitcoin white paper in October 2008, it likely wasn’t with the idea that governments and central banks needed to recognize, adopt, and regulate Bitcoin for everyone’s benefit. Contrary to popular belief, the Bitcoin white paper and the message in the genesis block can’t be taken away from the idea that central banks and governments need to recognize, adopt, and regulate bitcoin for everyone’s benefit.

Separating Money From the Church of Politics

“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

Bitcoin white paper

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”

-Bitcoin genesis block’s coinbase parameter message

In the same way that it would be absurd to force Catholic Church beliefs upon others through a government, so it is absurd to think that strangers in this collective abstraction called the “state” should have the ability to decide how we spend our money or interfere with our financial lives.

Imagine a neighbor demanding that you show your wallet daily to them. If the amount exceeds a certain amount you must pay them a percentage. Imagine that there is a neighbor who doesn’t like you, and that you can’t transact with them. For example, lending five dollars to a friend could be considered a violation of the rules and can lead to horrendous, violent consequences. You will be punished for breaking these rules, in terms of your time, money, and health. All of this can be explained by the fact that your neighbor is trying to protect you against bad actors.

Infrastructure Bill Shows Regulators Continue Sapping Bitcoin of Its Utility

This past week many in the crypto community have been in a tizzy over the new $1.2 trillion infrastructure bill that was just approved by the U.S. senate. Individual crypto asset owners, miners, app developers, miners and other major players in the crypto industry have all expressed concern at the vague definition of what constitutes a “crypto broker” and said that innovation will soon flee the U.S.’s draconian policies for more friendly and open-minded countries.

Technically, the verbiage of the massive 2,702-page bill could even classify someone who merely facilitates trades of crypto and fiat for a friend regularly as a “broker” responsible for reporting to the IRS. We all know what happens when you get in trouble with your weird neighbors. They’ll show no mercy, and even eat their own. This is not to mention the fact that most of the parties would find it virtually impossible to report on the invasive procedures.

Satoshi Versus the 'Infrastructure Bill' — Political Permission Not Required
H.R. 3684 updates the 1986 Internal Revenue Service tax code to expand the definition of “broker.”

The strangers who live down the street from the big edifices of Washington, D.C. are more important than the neighbor with the crazy idea. Most people believe that the strangers who work in government edifices around the world are special. They are exempted from the common morality, justice and respect we expect of our neighbors. They are gods and have the right to decide how money is spent. Without or with your consent.

A tragedy is that many crypto enthusiasts will allow strangers in D.C. to determine their financial futures. They even beg them for mercy regarding their personal finances.

Perhaps this isn’t the right place to go into the “but it’s just how it works, that’s how society is set-up” objections. This article would be far too long. Suffice to say, there are ultimately two roads we can go down regarding crypto: live and let live via voluntary consent, or violent force against peaceful people. This is the lazy, pragmatic path. However, this pragmatic approach has caused a lot of heartbreaks and tragedy. That’s probably the most understated statement in recorded history.

Satoshi Versus the 'Infrastructure Bill' — Political Permission Not Required
With all the regulatory concern about Bitcoin’s energy consumption, one is led to wonder what the carbon footprint of 20+ years of sustained U.S. bombing in the Middle East adds up to. Image: ART production

The Scapegoating of Bitcoin: Climate Change, Terror, and Money Laundering

With this new U.S. infrastructure bill (now moved to the House of Representatives which is on recess until September 20), the EU’s plans to track all bitcoin transactions and ban anonymous wallets, the massive momentum CBDCs are gaining worldwide as countries responsible for 90% of the world’s GDP research and trial them — it is clear we are on the cusp of something unprecedented. Even the sacred realm of decentralized finance (defi) is no longer safe, with U.S. Securities and Exchange Commission Chairman Gary Gensler recently calling for more authority to regulate defi.

Contrary Satoshi’s vision of peer-to-peer electronic money without the need of a financial institution and in accordance with his vision, the picture is becoming one instead of centralized, coercive, control over private finance. Privacy and autonomy in money, in other words, are being made out as relics to be traded in for antiquated ideas of kings ruling peasants, disguised as modern and sensible “regulation.”

If crypto’s excessive regulations are meant to include the financially excluded and give them access to financial tools, it stands to wonder why debilitating limitations and KYC requirements must be centrally forced upon them, when these matters of security could be handled locally.

In lockstep with the discrepancy-ridden narrative about a deadly disease, we see a new strain of virus grow ever more powerful: an unapologetic strain of economic surveillance and the invasive copping and destruction of innovative financial technologies for people everywhere who are in dire need of economic freedom. This is supposedly because Bitcoin is dangerous for the environment and criminals use it. In psychology, this is what is called “projection.”

But there are cold hard facts:

  • Terror and destruction of the earth are the specialty of the state, not internet money.
  • Destruction of economies and livelihoods is the specialty of the state. Permissionless internet money is saving people from government folly.
  • Statistically, almost all financial crimes are still conducted in fiat currencies. It is not a contest. Reports for 2020 show that crimes in fiat were estimated to account for $1.4 trillion dollars. The same estimates put crypto crime at about $10.5 billion.
  • Slavery and stealing are wrong, no matter what form they take, or how stylish they are made out to be.

I will get to the slavery section at the end. It is clear that, although politicians give democracy endless lip service, the people who are supposed to be representatives of government are becoming increasingly voiceless. While some may be well-intentioned, we should politely ask our dangerous neighbors in D.C. for help. No amount of pleading can make a difference if the channels for change are corrupted. Luckily, crypto doesn’t require political permission.

We need an unanimous vote on the NEW compromise crypto provision. Get in touch with your senator immediately.

Request them to support the Toomey–Lummis–Warner compromise crypto amend, in order to ensure that we don’t significantly expand financial surveillance and harm innovation.

517-200-9518

It takes 30 secs. pic.twitter.com/23tUIh2LP2

— Naomi Brockwell (@naomibrockwell) August 9, 2021

How To Experience Crypto Freedom Now

In three words: Just use it.

Pay for things. Tipp your friends. It can be invested. It should be kept in non-custodial pockets. It can be purchased from individuals face-to-face and online. It can be concealed from corrupt and privacy-invasive governments and institutions. They are ignored. You can build a highly successful start-up. Or, do nothing at all. You can do everything in accordance with legacy finance models, or any other options. I do not care. However, I won’t try to force you to do things my way. This is the game of government.

There is a serious risk of doing peaceful and completely moral things in the current paradigm. This speaks volumes about the current state of the world. It may not be wise for everyone to rush headfirst into the IRS offices shouting that they will never pay them again. However, crypto’s utility has been lost without permissionless, direct economic action.

“Just use your credit card, bro.” Yes, it has lost its utility. But I’m going .”

rich

“I just passed my KYC bro. Now I can use my Visa card to pay for things with crypto as soon as my Paypal crypto account is unfrozen so I can top up the card.”

Yes, you will be rich in a dystopian, closed-down world. Maybe you can spend your fortune on something to help improve your social credit score so you’ll have a chance at flying out of the country for a vacation next year.

Money is a tool that helps us live our lives to the fullest. Without economic freedom, it is impossible to enjoy life’s ups or downs, love, adventure, and fun. The majority of people in cryptocurrency today seem to not understand what freedom is. The philosophical battle is worthwhile for those who do understand, even though it may end up costing us dearly. It may seem paradoxical at first glance, but it is not. Although the battle is over, the war is still on. It’s clear that the idea is already in place, and that’s what’s most important.

“Number Go Up” is therefore very exciting because it gives you greater access to opportunities, tools, and leverage to make the world happier and more free.

To say that these goals — maximum peace, economic freedom and non-violation by the non-violent — would be impossible to achieve because the current system is no longer viable or practical, it’s “utopian” to say they are unworkable. This is like saying that farming depends on slave labor and cannot be changed. This is a lazy excuse. Satoshi Nakamoto was a force for change and helped finance become a more free place. If money can evolve in such a way, so can societies across the globe.

Personally, it doesn’t matter if I win or lose during my life. I’m happy because the idea is here, because I can fight for it, and because I can use crypto however I damn well please, right here, and right now. This is all about human dignity to me. I hope my son’s generation, and all generations after him, will be able to laugh at the absurdity of this whole mess. Let’s get rid of the violence and religion of politics in favor of a free economy.

What are your thoughts on the new U.S. infrastructure bill as it relates to Satoshi Nakamoto’s white paper? Please leave your comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, ART production

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Algotech (ALGT) raises over $500k in a single day during ongoing presale

San Fransico, California, April 9th, 2024, Chainwire Algotech (ALGT) has emerged in the limelight again with the milestone of raising $500,000 in a single day during its ongoing presale. In less than four weeks of the current presale, Algotech has raised over $3.5 million. Algotech’s Journey Algotech was launched as an initiative by successful traders…


San Fransico, California, April 9th, 2024, Chainwire

Algotech (ALGT) has emerged in the limelight again with the milestone of raising $500,000 in a single day during its ongoing presale. In less than four weeks of the current presale, Algotech has raised over $3.5 million.

Algotech’s Journey

Algotech was launched as an initiative by successful traders and technology experts who wanted to democratize access to advanced trading tools for layman users. The team wanted to provide beginning traders with the same high-tech tools that are used by hedge funds and large-scale investment firms. Combining this with the effectiveness of blockchain technology, Algotech has set its sights on becoming the leading platform by bridging together AI and blockchain technology in the trading segment.

Bringing Together AI and Finance

Millions of new users are embracing blockchain technology for its groundbreaking potential. However they still have to rely on traditional exchanges that design the ecosystem to favor institutional investors. Algotech is rectifying this challenge by introducing the first artificial intelligence (AI) based exchange that will allow users to have advantages in trading. The platform makes it simple for users to invest in cryptocurrencies and receive automated investment guidance.

Algotech’s Key Features

What makes Algotech a standout leader in the segment is the core features that have been introduced for traders. Imagine a trading landscape where regular traders have access to the same tools and resources as hedge funds and large-scale institutional investors. These tools conventionally have massive fees and are only available to a limited number of institutes. This is precisely the challenge that Algotech is working on addressing.

Here are the core features that are making Algotech is working on:

Breakout Detection

The breakout detection feature relies on advanced algorithms that factor in over 1000 unique data points to identify breakout opportunities. These algorithms have been trained on H100 GPUs to ensure that traders can get accurate investment calls for high-precision calls.

Hedging

Algotech allows traders to minimize investment risk by monitoring funding levels, liquidity, and spread. These factors generate warnings and allow users to implement advanced risk management including automated stop-losses.

High-Volume Arbitrage

This feature allows users to take advantage of the difference in pricing between different platforms using Algotech’s technical APIs. With high positioning sizing, users can handle trades with ease.

The Growing AI Blockchain Segment

The growth of the AI sector has been exceptional. In the past few years, the sector has grown multifold, and today, it has a market cap of over $25 billion, according to CoinGecko. In the coming few years, this number is expected to explode further as millions of new users are now looking for AI-based features in their day-to-day applications. One of the biggest sectors under the spotlight is the trading sector. The global cryptocurrency exchange segment is currently valued at over $45 Billion and is expected to reach $110 Billion in 2028. Additionally, beyond just cryptos alone, AI blockchain technology is also expected to serve as the backbone of the global trading ecosystem. This is where Algotech expects to bridge the gap by introducing AI-based trading features. These features will allow beginner traders to have an even playing ground against leading institutional investors and seamlessly invest using AI as their guide.

About Algotech

As Algotech continues its journey to transform Decentralized Finance (DeFi) with its innovative products, it is exciting to see the community support for this mission. The platform is democratizing access to trading tools for individuals across the world by providing AI features. Additionally, Algotech is making investing inclusive for the broader community by making it simple for users to become an early part of the community by providing governance rights and profit shares. As the project moves through its phases, we can only look toward the achievements that are on the horizon for Algotech, a true AI-blockchain project.

Visit the links below for more information about Algotech (ALGT): 

Algotech is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Investing in cryptocurrencies is volatile and risky.

Contact

Algotech


Algotech Solutions


[email protected]


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IOTA price nears a key support: Can bulls bounce on key news?

IOTA price is down 4% in the past 24 hours and trades near $0.30. The IOTA team announced a key partnership in Singapore,but is the price set to bounce or dip futher? IOTA’s price has declined 5% in the past 24 hours to trade near a key support level. The slip now has weekly gains…


  • IOTA price is down 4% in the past 24 hours and trades near $0.30.
  • The IOTA team announced a key partnership in Singapore,but is the price set to bounce or dip futher?

IOTA’s price has declined 5% in the past 24 hours to trade near a key support level. The slip now has weekly gains cut to just 2% while the altcoin has turned red on the monthly time frame.

The IOTA token trades at $0.31, down from recent highs of $0.41. This cryptocurrency is also one of the worst performing since the 2017 bull market. Per data from CoinGecko, IOTA is down more than 94% since its all-time high above $5.25 reached over six years ago.

On Tuesday, IOTA announced a major partnership with Tenity as it looks to tap into the growth potential in the Real-World Assets (RWAs) and DeFi sectors. The APAC Accelerator is a 12-week program that will see select startups receive $50k in grants.

📣 Big news from Singapore! We’ve teamed up with @tenity_global to launch the #IOTA APAC Accelerator, a 12-week program to empower the next generation of DeFi pioneers.💪

Find out how you can apply & receive a $50,000 grant 👇 https://t.co/R4EQAVaX4O pic.twitter.com/rKQp9jJqDa

— IOTA (@iota) April 9, 2024

Despite this and other recent key developments, price remains largely devoid of any strong momentum.

IOTA price – bounce or dip?

Bitcoin’s run to the new all-time high above $73k in March catalysed strong gains for most altcoins. Ethereum for instance reached a multi-year peak above $4,000 while Solana, BNB and even Dogecoin soared.

IOTA did manage to break above $0.30 during the broader market spike in March. However, it remained well below its 2021 highs above $2 and as a result has dropped out of the top 100 by market cap.

Can IOTA’s price recover to the last bull market highs and potentially eye a retest of its ATH?

IOTA price chart

IOTA/USD on the weekly chart is below the 50-week EMA and the RSI is trending lower below 50.

A symmetrical triangle pattern is also formed on the daily chart, with price capped by a downtrend line since mid-March.

If price breaks out from the upper trend line, IOTA could retest levels at $0.35 and potentially $0.41 to allow for a bullish breakout in line with the broader market.

On the flipside, a breakdown for IOTA from the lower trend line would indicate a bearish trend. In this case, a drop to $0.20 is possible, below which bears could target October 2023 lows of $0.13.


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Analyst: Solana to Reclaim $200, Many New Crypto ATHs Soon

In his latest social media posts, Daniel Cheung, co-founder of Syncracy Capital, expressed confidence in the strength of solana (SOL) and its potential to reclaim the $200 mark. He also hinted that upcoming upgrades could pave the way for new all-time highs (ATHs). Cheung also shared his bullish outlook on bitcoin (BTC…
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